Du Pont To Sell Medical Units
US chemicals group Du Pont, whose pharmaceutical operations have already been lodged in the DuPont/Merck Pharmaceuticals joint venture (Marketletters passim), is now planning to sell off four medical products units in a move aimed at raising finance for the repurchase of some $8.8 billion shares from Seagram last month.
The disposals are Du Pont's range of diagnostic and research equipment, including its New England Nuclear operation, as well as its X-ray screens and films business. It is thought that these units could bring in around $1 billion. There is said to be no plan to sell off its stake in the DuPont/Merck affiliate.
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